Infineon quarterly loss narrows, sales rise 24%

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LONDON (MarketWatch) -- German semiconductor manufacturer Infineon Technologies AG
IFX, -4.44%IFX, -1.10%
on Wednesday said its second-quarter loss narrowed to 26 million euros ($32 million), or 0.03 euros a share, from 114 million euros, or 0.15 euros a share, a year earlier. Infineon swung to an EBIT profit of 28 million euros compared to a loss of 117 million euros in the year-ago period. Revenue climbed 24% to 1.99 billion euros on higher sales in the memory products and the automotive, industrial and multimarket segments. In the third quarter, Infineon said it expects EBIT and revenue to decline at its two logic divisions from the second quarter. Infineon reiterated that its memory chip unit will be spun off into a separate entity name Qimonda effective May 1.

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